Tax
Tax News & IRS Insights for Accounting Professionals
Accounting Today delivers news and analysis for accounting and tax professionals on federal and state tax developments, IRS guidance,information reporting, and operational implications for practices and clients. Our coverage focuses on legislative and procedural shifts that tax practitioners must monitor in planning, compliance, and advisory contexts.
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Tax prep giant H&R Block Inc. announced that its first-quarter tax preparation and related fees rose 3.7 percent from a year earlier, to a total of $1.98 billion.
April 13 -
A court order will allow the Internal Revenue Service to ask PayPal, a money transfer service owned by eBay Inc., to turn over information on customers who might be evading taxes.
April 12 -
Tax Freedom Day will fall on April 26 this year, according to the Tax Foundation's annual calculation using the latest government data on income and taxes.
April 12 -
A husband and wife have filed a case against Ernst & Young, blaming the firm for the loss of $40 million in a tax shelter deemed abusive by the Internal Revenue Service, according to a published report.
April 11 -
Taxware, a provider of transaction tax calculation and compliance solutions, has released its annual list of the "Top 10 Most Unusual U.S. Sales Tax Laws for 2006."
April 11 -
Tax research and software provider RIA has upgraded its proprietary Checkpoint service to include expansion of user access to BNA content, international standards and titles from sibling Thomson company PPC.
April 10 -
The just-released Winter 2005-2006 issue of the Statistics of Income Bulletin discloses that adjusted gross income rose in 2004 for the second year in a row, increasing by 8.9 percent to $6.8 trillion. The largest component of AGI, salaries and wages, increased 6.0 percent to $4,977.9 billion, while net capital gains rose 53.2 percent to $442.1 billion. Taxable income increased 10.6 percent to $4.6 trillion.
April 10